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Mar 19, 2013
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we have to remember, the budget deficit was 10% of gdp in 2009. now it's 5. and going down to 2 or 3 and then it's going to start going up again. >> $800 billion now. >> that's all. and those pressures, by the way, coming from health care costs, not from a lot of the stuff they're talking about cutting the discretionary part of the budget. but on the corporate tax thing, i hate to introduce root canal again be, but if you want to get down to 25%, the white house said 28% and it's a goal that probably all of us would embrace, you're going to have to close a bunch of loopholes. if you want it to be at least revenue-neutral -- >> which the president has said he would have -- not the corporate, the personal. >> anyone who advocates for that and i've got a whole list, has to be willing to put their specific loopholes on the table. you can't do the paul ryan thing with the big asterisk and say -- >> what do you think? >> that's exactly the way you have to approach this. we do need -- first off, this issue is about 5, 10, 15 years from now, stablelizing the debt at
we have to remember, the budget deficit was 10% of gdp in 2009. now it's 5. and going down to 2 or 3 and then it's going to start going up again. >> $800 billion now. >> that's all. and those pressures, by the way, coming from health care costs, not from a lot of the stuff they're talking about cutting the discretionary part of the budget. but on the corporate tax thing, i hate to introduce root canal again be, but if you want to get down to 25%, the white house said 28% and it's a...
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Mar 22, 2013
03/13
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you know, the best way we can deal with our debt and deficit long term is to grow the economy and that's what this budget does. it recognizes we need to invest long term. we need to cut spending and it does that. it does not do that. >> we need to invest long term. >> senator, with all due respect and i month your point of view may i just add after $650 billion tax hike already this year you raising taxes at least another trillion, i don't know how that is pro growth. regarding the sequester, i can understand making some changes to the sequester with regard to the management of the subaccounts particular in the defense department but you're not doing that. you're spending most of that money. associated press reports often years there may be a couple hundred billion dollars of spending cuts but the sequester was 1.2 trillion. you are in effect raising spending and raises taxes are you not? >> the budget closes a lot of corporate loopholes where we've been paying for people who go overseas and create jobs rather than paying to create jobs here at home. i don't think that's what we ought to
you know, the best way we can deal with our debt and deficit long term is to grow the economy and that's what this budget does. it recognizes we need to invest long term. we need to cut spending and it does that. it does not do that. >> we need to invest long term. >> senator, with all due respect and i month your point of view may i just add after $650 billion tax hike already this year you raising taxes at least another trillion, i don't know how that is pro growth. regarding the...
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Mar 26, 2013
03/13
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you have to go down to third, deficit and debt, and that's only 33%. so the deficit/debt thing, i think you're losing ground on that. and here's another one. i want you to hear this. only 6% of those polled want to cut medicare. and yet you've got a house budget that wants to slam medicare. i know entitlement reforms are necessary. maybe small ones. but people do not want to see that program depart. you all are running against the tide, even of the numbers of major republican pollster like john mclaughlin. >> my point has been in order to fix this presidential fix we have in our party we have to do a couple things. we have to do more than just, as you say, bean count and put on the green eye shade. i agree with you. we also have to get to the issues that get to people's hearts. certainly health care. school choice. charter schools. i mean, one of the reasons why i think the bushes have done so well in hispanic communities, and minority communities is that -- they are rightfully -- >> they go there! >> they're obsessed -- they go there. >> jack kemp wen
you have to go down to third, deficit and debt, and that's only 33%. so the deficit/debt thing, i think you're losing ground on that. and here's another one. i want you to hear this. only 6% of those polled want to cut medicare. and yet you've got a house budget that wants to slam medicare. i know entitlement reforms are necessary. maybe small ones. but people do not want to see that program depart. you all are running against the tide, even of the numbers of major republican pollster like john...
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Mar 26, 2013
03/13
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it's not a big budget deficit. it's that the italian economy has been dead flat for tenl years, me need toty away all this rigidity in order to grow. ets, you know, europe really has to focus more on growth, which is official speak for too much austerity, folks. this is the is not working. to my mind, what you see is they haven't made much progress on this reform and opening up. they need a reagan. they need a thatcher. they need somebody who is going to go for the supply side, let's grow, let's deregulate, and they haven't made much progress on that. and so all this focus on the debt takes you away from the fact that italy hasn't grown for ten years. if it doesn't grow for 20 years, this debt problem is really very difficult to cover. growth is the issues for italy. i do not think the european union has good policies that give them good growth because they have all these rigidities built into the system. unlike america, wherefore both or worth, if your boss doesn't like it, he follows you and moves on. >> pocket l
it's not a big budget deficit. it's that the italian economy has been dead flat for tenl years, me need toty away all this rigidity in order to grow. ets, you know, europe really has to focus more on growth, which is official speak for too much austerity, folks. this is the is not working. to my mind, what you see is they haven't made much progress on this reform and opening up. they need a reagan. they need a thatcher. they need somebody who is going to go for the supply side, let's grow,...
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Mar 21, 2013
03/13
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to balance the budget because the president and treasury secretary were worried about the long term deficit? does that sound familiar? at the exact same time, the fed tightened rates, doing what all the bears say bernanke should do, betting that inflation could rage and rage easily if the fed stayed easy, which is what his critics are saying he should do right now. but when we went down this road in 1937 it sent the economy into an amazing tail spin. causing a recession within a depression. it was an economic calamity that was totally avoidable if the people in power made different, smarter choices. especially the federal reserve. ben bernanke does not want history to repeat itself. he's not going down the path of what the fed did in 1937. he's not stupid. even though that's exactly the path unfortunately that the president and congress are taking. bernanke recognizes that obama and congress have repeated the errors of 1937 down to a tee. he can't let the fed's part in the drama be repeated. otherwise he'd go down as the fed chief who never got the economy going and put it back in a recessi
to balance the budget because the president and treasury secretary were worried about the long term deficit? does that sound familiar? at the exact same time, the fed tightened rates, doing what all the bears say bernanke should do, betting that inflation could rage and rage easily if the fed stayed easy, which is what his critics are saying he should do right now. but when we went down this road in 1937 it sent the economy into an amazing tail spin. causing a recession within a depression. it...
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Mar 18, 2013
03/13
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states across the united states are relying on revenue from casino gambling to help solve their budget deficit. the main attraction at these gambling halls is the new slot machines. we americans spend more money on slots than on movies, baseball, and theme parks combined. but with slots, there is the potential for a dangerous side effect: gambling addiction. and more people are addicted to slots than any form of gambling. [slot machines beeping] >> this is what slot machines used to look like, where you pull the handle and hope for three of a kind. [slot machine beeping] this is what they look like today. the modern slots are like high-tech video games that play music and scenes from tv shows. you can play hundreds of lines at once, and instead of pulling a handle, you bet by pushing buttons, which means each bet can be completed in as little as 3 1/2 seconds. it looks like great fun, but it can be dangerously addictive. >> whether or not it's their intention, the gambling industry is designing machines that can addict people. >> mit anthropology professor natasha schull has studied gambling a
states across the united states are relying on revenue from casino gambling to help solve their budget deficit. the main attraction at these gambling halls is the new slot machines. we americans spend more money on slots than on movies, baseball, and theme parks combined. but with slots, there is the potential for a dangerous side effect: gambling addiction. and more people are addicted to slots than any form of gambling. [slot machines beeping] >> this is what slot machines used to look...